Copper Beech Farm – most expensive family home ever – sells for $120 million

Copper Beech Farm, a 50-acre compound on the waterfront of Greenwich, Conn. The property boasts a carriage house with a clock tower, co-joined heptagonal pools, a greenhouse, wine cellar and grass tennis court.

Photo By David Ogilvy & Associates

Photo By David Ogilvy & Associates

Photo By David Ogilvy & Associates

Photo By David Ogilvy & Associates

When Greenwich, Connecticut's Copper Beech Farm hit the market last spring, asking $190 million, people across the nation noted that while the home earned the distinction as the most expensive single-family home ever to hit the American market, it wouldn't necessarily close at a nine-figure sum. But it did.

Earlier this week, the mansion that was once home to the Lauder Greenway family closed with a final price of $120 million, according to the Greenwich Town Clerk's office. The paperwork was filed early Friday morning.

You can check out the full listing here, and read more about the property in some of our previous stories, like this piece written when it originally went on the market, and this post when the price was first chopped.

The Details:

First, the buyer is listed as The Conservation Institute, LLC., a Connecticut limited liability company with an address listed in Stamford. No surprises here that the property was bought by an LLC. That's a standard move for a trophy piece.

Second, while we can't learn much about the buyer because of that LLC privacy shield, listing agent David Ogilvy told me earlier this afternoon that the buyer was not local. That shoots down some of the rumors we've been hearing that the buyer could be none other than Bridgewater Associate's Ray Dalio, since he's a Greenwich guy. It does not negate rumors that it might be a wealthy Russian, but we're not in the business of speculation.

Third, this is the single most expensive residential sale Greenwich has ever seen. In fact, it's the most expensive single-family residential property sold in the United States, according to Ogilvy and the real estate website Curbed. Here's what they had to say:

Though it sold for just 61 percent of its initial ask, the property still managed to edge out a win over the reigning champ of single-family residential sales in the United States, a nine-acre Silicon Valley spread that sold for $117.5M in January 2013. (It did not, in fact, beat Montana's Broken O Ranch, which sold in 2012 for $132.5M—though most would consider that a working farm and not a single-family home of the Copper Beech breed.)